Took some advice from the masses and took profit. Still a huge believer that HOOD can hit $65 a share post earnings but wasn’t willing to risk it. Trade recap for those interested:
1. Was long QQQ at all time highs, I’m retarded but not gay so I never short the markets. QQQ dipped heavily in Feb/March.
2. Look for a high beta individual stock to ride the recovery that won’t be affected by tariffs. HOOD was a great candidate as it may even benefit from the market conditions.
3. All in on shares. Average of $38.43. Every day below my average I add 30 delta by selling a put using my margin balance. Worst case is HOOD goes to zero then the app disappears and I don’t owe shit anyways.
4. HOOD massive pop on tariff delay news, I sell ATM calls at $45 strike for $13k credit.
5. HOOD dips again with earnings on the horizon. I’m up 5K on my short calls so I could just collect, but I instead loaded the $50 5/2 calls costing me 6K to play earnings/the run up.
6. HOOD has the week of weeks. Up 22% and my calls end up going in the money.
7. Closed whole position, original cost was $96,073 and I ended with $133,760, a 28% gain on my entire account.